New Credit Card Targets Non-Profit Organizations

Jun 10, 2019

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Update: Some offers mentioned below are no longer available. View the current offers here – U.S. Bank FlexPerks Travel Rewards Visa Signature Card

There are many types of business credit cards out there, with options for startups, freelancers, large enterprises and everyone in between. And now, there’s one specifically for non-profit organizations.

The Charity Charge Nonprofit Business Mastercard, issued by Commerce Bank, is the first-of-its-kind card to offer benefits specifically geared toward non-profits. Although there are many ways charities can maximize points, Charity Charge went with a cash-back model. According to the company, it doesn’t want its users to have to jump through any hoops to redeem rewards.

With the card, organizations get 1% cash back on every purchase that’s automatically applied to their monthly statements. There are many cash-back business cards that offer better returns than that, but this one offers some unique perks that can be useful for non-profits.

Perhaps the most notable feature is that unlike most business credit cards, the Charity Charge Nonprofit doesn’t require a personal guarantor. This means that the bank doesn’t run personal credit checks for any individuals listed on the application and doesn’t report account activity to any consumer credit bureaus. The company has also partnered with PurchasingPoint, a discount program for nonprofits so that cardholders receive deals at FedEx, Enterprise, Staples and other affiliated places that businesses often rely on. Other perks include the standard suite of Mastercard BusinessCard benefits, such as purchase protection and extended warranty.

The card has no annual fee and has a relatively low APR of 14.9%, but remember the first and most important of TPG‘s Ten Commandments for Travel Rewards Credit Cards: “thou shalt pay thy balance in full.” The company says it makes money through a share of vendor processing fees. Launch clients include the international humanitarian aid group Global Impact, 1% for the Planet and chapters of the United Way, Junior League and YMCA.

Aside from the Charity Charge Nonprofit, Charity Charge offers consumer and business cards that earn 1% cash back that is automatically donated to the charities of the card holder’s choice. However, if you’re thinking about using a personal credit card for charitable donations, you could be better off using a card like the the U.S. Bank FlexPerks Travel Rewards Visa Signature Card which offers 2 points per dollar on charitable donations as a permanent bonus category, or The Blue Business®️ Plus Credit Card from American Express that offers 2 Membership Rewards points per dollar on all purchases, up to the first $50,000 per year (then 1x thereafter).

Featured image by Hero Images / Getty Images.

Bank of America® Premium Rewards® Visa® credit card

This card from Bank of America gets really interesting if you have a BofA checking, savings or investment account. Depending on the value of your combined accounts you can potentially get as much as 3.5x points on travel/dining and 2.625x points on other purchases making it the richest consumer banking bonus out there.

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More Things to Know
  • Receive 50,000 bonus points – a $500 value – after you make at least $3,000 in purchases in the first 90 days of account opening
  • Earn unlimited 2 points for every $1 spent on travel and dining purchases and unlimited 1.5 points per $1 spent on all other purchases
  • If you're a Bank of America Preferred Rewards member, you can earn 25%-75% more points on every purchase
  • No limit to the points you can earn and your points don't expire
  • Redeem for cash back as a statement credit, deposit into eligible Bank of America® accounts, credit to eligible Merrill accounts, or gift cards or purchases at the Bank of America Travel Center
  • Get up to $200 in combined airline incidental and airport expedited screening statement credits + valuable travel insurance protections
  • No Foreign Transaction Fees
  • Low $95 annual fee
Intro APR on Purchases
N/A
Regular APR
17.74% - 24.74% Variable APR on purchases and balance transfers
Annual Fee
$95
Balance Transfer Fee
Either $10 or 3% of the amount of each transaction, whichever is greater.
Recommended Credit
Excellent/Good

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